Avanos Medical (NYSE:AVNS) Stock Rating Reaffirmed by JMP Securities

Avanos Medical (NYSE:AVNS - Get Free Report)'s stock had its "market perform" rating reiterated by research analysts at JMP Securities in a research report issued on Tuesday, Benzinga reports.

Separately, StockNews.com lowered shares of Avanos Medical from a "buy" rating to a "hold" rating in a report on Friday. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $31.00.

Avanos Medical Stock Performance

AVNS traded down $0.18 during trading on Tuesday, reaching $19.55. 213,717 shares of the company's stock were exchanged, compared to its average volume of 277,014. Avanos Medical has a 1 year low of $17.24 and a 1 year high of $26.56. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.28 and a quick ratio of 1.47. The stock has a market capitalization of $897.35 million, a P/E ratio of -14.70 and a beta of 0.97. The company's fifty day simple moving average is $19.20 and its 200-day simple moving average is $19.93.

Avanos Medical (NYSE:AVNS - Get Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.02). Avanos Medical had a positive return on equity of 4.10% and a negative net margin of 9.15%. The business had revenue of $166.10 million for the quarter, compared to analysts' expectations of $162.90 million. During the same period in the prior year, the business posted $0.27 earnings per share. The business's quarterly revenue was up 4.3% compared to the same quarter last year. As a group, research analysts predict that Avanos Medical will post 1.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Michael Greiner sold 8,000 shares of the business's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $19.12, for a total value of $152,960.00. Following the completion of the sale, the chief financial officer now owns 151,495 shares of the company's stock, valued at approximately $2,896,584.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.94% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. William Blair Investment Management LLC purchased a new stake in Avanos Medical during the third quarter worth about $22,134,000. Norges Bank purchased a new stake in shares of Avanos Medical during the fourth quarter worth approximately $7,016,000. RGM Capital LLC increased its stake in shares of Avanos Medical by 6.8% during the third quarter. RGM Capital LLC now owns 2,951,691 shares of the company's stock worth $59,683,000 after buying an additional 189,017 shares during the period. Foundry Partners LLC increased its stake in shares of Avanos Medical by 74.6% during the fourth quarter. Foundry Partners LLC now owns 371,029 shares of the company's stock worth $8,322,000 after buying an additional 158,473 shares during the period. Finally, Kestrel Investment Management Corp purchased a new stake in shares of Avanos Medical during the fourth quarter worth approximately $3,265,000. Institutional investors and hedge funds own 95.17% of the company's stock.

About Avanos Medical

Avanos Medical, Inc, a medical technology company, offers medical device solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers a portfolio of chronic care products that include digestive health products, such as Mic-Key enteral feeding tubes, Corpak patient feeding solutions, and NeoMed neonatal and pediatric feeding solutions.